Ample stocks drag down sugar futures by 0.53 per cent

Sugar prices eased by 0.53 per cent to Rs 2,639 per quintal in futures trade today as participants trimmed positions, triggered by adequate stocks position at spot market on persistent supplies from mills.
In futures trading at the National Commodity and Derivatives Exchange, sugar for delivery in December eased by Rs 14, or 0.53 per cent to Rs 2,639 per quintal with an open interest of 59,830 lots.
Similarly, the sweetener for delivery in far-month March shed Rs 5, or 0.18 per cent to Rs 2,780 per quintal in 28,780 lots.
Analysts attributed fall in sugar prices at futures trade to adequate stocks position in the physical market following higher supplies from mills.